Mr. Trump tweets on Bitcoin and Libra, and it is quite uninformed

By | Bitcoinz News | 12 Jul 2019

If Mr. Trump is known for something then it is use of media and hype to his advantage.  Whether you like him or not, he has a knack to go against the media tide so that the whole world takes a notice.  His take was no different when he commented on Bitcoin by saying "I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity...."



Trump's comments about bitcoin would have been true if he had tweeted this about 5-7 years ago.  At this stage of bitcoin's evolution - I think associating a secured token that can be TRACED with illegal activities, while US government remains clueless about how USD is being used (freely) around the globe facilitating illegal, heinous and inhumane crimes speaks a volume about how uninformed our beloved president is.  Well, he proved himself to be a mainstream politician by following the rhetoric.

Trump was right, however, in his comments about Libra.  We have always been vocal against Facebook's Libra and its attempt to undermine the decentralization movement.

Irrespective of the nature of this tweet, it will only help bitcoin because most 'sane' people out there will always do the opposite of what Mr. Trump says.  So, here is to hoping that this shittweet storm will help bitcoin get adopted faster!

RK Reddy

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My name is RK Reddy. I write exclusive content for; Our content is original, unique, researched and balanced. We have exclusive interviews with CEOs of great blockchain companies. Our eBooks and special alerts are free for subscribers

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